11/23/98 - CHINA 1999 GOLD OUTPUT TARGET 140_170 TONS
<Picture>
BEIJING, Nov 23, 1998 (Asia Pulse via COMTEX) -- China has set its production target of gold at between 140 and 170 tons for 1999, according to a preliminary plan disclosed at a recent national planning meeting on gold production.
The gold industry plans to realise between 800 million yuan (US$96.73 million) and one billion yuan in profits and taxes in 1999.
The industry plans to give priorities to the deepening of enterprise reform, strengthening of management and development of resources in the coming year, according to Wang Dexue, head of the Gold Administrative Bureau of the State Economic and Trade Commission.
During the January-September period, China produced 123 tons of gold, a rise of 21 percent over that in the previous year and generated 14 billion yuan in sales income, a rise of 21 percent year-on-year. It netted 700 million yuan in profits, a 45 percent rise year-on-year and four billion yuan in industrial added value, up 12 percent from the previous year.
Sources said that 30 percent of enterprises in the gold industry were in the red in the period, rising one percent over the same period of the previous year. |
